Algert Global LLC Acquires 54,094 Shares of Ralph Lauren Corporation $RL

Key Points

• Algert Global LLC increased its stake in Ralph Lauren Corporation by 501.8% in Q1, acquiring an additional 54,094 shares to hold a total of 64,874 shares.
• Ralph Lauren reported a surprising $3.77 EPS in its latest quarterly earnings, exceeding analyst expectations of $3.50, and experienced a 13.7% revenue growth year-over-year.
• Ralph Lauren announced a $1.50 billion stock buyback plan, allowing the company to repurchase up to 8.8% of its shares, indicating management's belief in the stock's undervalued status.

Algert Global LLC increased its holdings in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 501.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 64,874 shares of the textile maker's stock after purchasing an additional 54,094 shares during the quarter. Ralph Lauren accounts for 0.4% of Algert Global LLC's holdings, making the stock its 29th biggest position. Algert Global LLC owned approximately 0.11% of Ralph Lauren worth $14,320,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of RL. Invesco Ltd. boosted its position in Ralph Lauren by 22.3% during the 1st quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker's stock worth $333,958,000 after acquiring an additional 275,391 shares during the last quarter. GAMMA Investing LLC boosted its position in Ralph Lauren by 24,164.5% during the 1st quarter. GAMMA Investing LLC now owns 254,292 shares of the textile maker's stock worth $56,132,000 after acquiring an additional 253,244 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in Ralph Lauren during the 1st quarter worth approximately $37,517,000. Nuveen LLC acquired a new position in Ralph Lauren during the 1st quarter worth approximately $23,520,000. Finally, Capitolis Liquid Global Markets LLC acquired a new position in Ralph Lauren during the 4th quarter worth approximately $20,788,000. 67.91% of the stock is owned by institutional investors.

Ralph Lauren Stock Up 0.9%

Shares of NYSE RL traded up $2.5740 during trading hours on Friday, hitting $288.0340. The company had a trading volume of 186,060 shares, compared to its average volume of 864,221. The stock has a market capitalization of $17.45 billion, a P/E ratio of 23.05, a price-to-earnings-growth ratio of 1.45 and a beta of 1.53. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58. Ralph Lauren Corporation has a 1-year low of $167.32 and a 1-year high of $306.34. The firm's 50 day moving average is $285.65 and its 200-day moving average is $258.80.

Ralph Lauren (NYSE:RL - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The textile maker reported $3.77 EPS for the quarter, beating the consensus estimate of $3.50 by $0.27. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm posted $2.70 EPS. The firm's revenue for the quarter was up 13.7% compared to the same quarter last year. On average, analysts expect that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren announced that its board has authorized a share repurchase plan on Thursday, May 22nd that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the textile maker to buy up to 8.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Citigroup upped their price target on Ralph Lauren from $250.00 to $295.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Barclays reaffirmed an "overweight" rating and set a $360.00 price target (up previously from $321.00) on shares of Ralph Lauren in a research report on Friday, August 8th. Wells Fargo & Company upped their price target on Ralph Lauren from $300.00 to $320.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Telsey Advisory Group upped their price target on Ralph Lauren from $315.00 to $335.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Finally, Wall Street Zen downgraded Ralph Lauren from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $306.41.

Ralph Lauren Company Profile

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men's, women's, and children's clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.